This week, Advertising Age reported that Omnicom beat expectations for 1Q, enjoying a 14 percent increase in profits. “The first quarter was a great start for 2008,” said President-CEO John Wren, adding that Omnicom “didn’t see any unexpected shifts in client spending patterns,” and the company is “not seeing a significant reduction in client spending.”
Advertising Age also noted the majority of Madison Avenue agencies failing to meet diversity hiring goals were in the Omnicom network. “Clearly the company isn’t pleased that it missed its numbers,” said a lawyer representing the ad giant. “But Omnicom doesn’t want to hire for numbers’ sake. It’s more important for us to create an environment that will accept [minorities] and help them to flourish. We want to make sure we are hiring the right people and, after we hire them, that we retain them.”
Nice to know Omnicom is striving to create an environment that will accept minorities. Wonder if the Diversity Development Advisory Committee thinks the first quarter was a great start for 2008. Obviously, Omnicom didn’t see any unexpected shifts in minority hiring patterns, and the company is not seeing a significant reduction in corporate exclusivity.
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